SoftBank to separate Japan business from overseas operations

[March 07, 2016]  (Reuters) - Japanese telecoms conglomerate SoftBank Group Corp said it would separate its domestic business from overseas operations to better manage its mobile and broadband investments across the world.

The overseas unit would include SoftBank's stakes in Sprint Corp and Alibaba Group Holding Ltd and the domestic business would include its holdings in Yahoo Japan, the company said in a statement.

SoftBank's Chief Operating Officer Nikesh Arora will lead the overseas unit and Ken Miyauchi, a SoftBank director, will lead the domestic business. (http://bit.ly/1OXpjbA)

The transfer of assets will be completed by Dec. 31, SoftBank said.

(Reporting by Supantha Mukherjee in Bengaluru; Editing by Anil D'Silva)

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